A single-price monopolist produces a ________ quantity than a perfectly competitive market with the same costs and charges a ________ price than the perfectly competitive market.
A) greater; higher
B) greater; lower
C) lesser; lower
D) lesser; higher

Question

Quizplus · Accepted Answer

A single-price monopolist produces a lesser quantity and charges a higher price compared to a perfectly competitive market due to its market power and lack of competition.

A Single-Price Monopolist Produces a ________ Quantity Than a Perfectly